Investors and traders may have experienced a considerable amount of nostalgia yesterday, as Fed Chair Janet Yellen employed the tradition of Ben “Helicopter” Bernanke as well as Alan Greenspan once she expressed her concerns in regards to the future of the economic climate.
Although markets are in agreement with her on the risks relating to economic growth, yet one can not help but ponder whether her language was more responsive to the latest correction within the NASDAQ market than anything else.
A further financial meltdown still is possible, as reported by IMF (International Monetary Fund) Chief Christine Lagarde. She has been posting comments on the claim by Fed (Federal Reserve) Chair Janet Yellen, who actually believed she'd not see an additional financial meltdown within her lifetime. (BTW If you hear this "Run for the hills").
Fed Chair Yellen's 2nd day of testimony on Capitol Hill is probably going to draw in much interest on Thursday worldwide, in addition to reports on weekly jobless claims, and PPI (Producer Price Index).
After the mixed overall performance has been observed in the earlier trading session, US stocks market migrated primarily higher throughout trading on Wednesday. Upward robust move on the day was made by the DowJones which reached a new all-time high.
The main indexes finished the day solidly in the positive zone. The DowJones flower 123.07 points (0.6%) to 21,532.14, the S&P500 addon 17.72 points (0.7%) to 2,443.25, and the NASDAQ increased up 67.87 points (1.1%) to 6,261.17.
In the meantime, the main Euro markets went significantly higher on the day. As the DAX30 Index and the CAC40 Index increased by 1.5% and 1.6%, respectively, the FTSE100 Index managed to jump by 1.2%.
In Asia-Pacific trading, markets throughout the region prices moved mostly lower in the course of the trading day on Wednesday. China's Shanghai Composite Index (SCI) dropped by 0.2 %, while Japan's Nikkei 225 Index decreased by 0.5%.
Overseas investors as well traders are going to be observing the US Dollar here to find out whether it might find some robustness after having a steady downtrend since the beginning of this year.
The primary crypto's rebounded back from Tuesday’s downfall. However, the increase in Ethereum and Bitcoin is soft, many of the most important crypto's are exhibiting positive divergence.
Gold bugs definitely will be watching the action of the US Dollar carefully, since the currency can have a direct impact on which way Yellow metal chooses to move next. The sudden weakness from the beginning of June has pulled the precious metal all the way down to the $1200-$1220 level, which was notable in a couple of instances during the last year and a half.
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